2220 Capitol Ave 4 Unit Apartment Building $1,995,000 ($498,750/Unit) Sacramento, CA 95816

Look no further for the chance to own an incredible piece of history in the prestigious Capitol Mansions neighborhood of Midtown. Situated on a full 6,534 square foot lot, this pride of ownership asset consists of two residential structures, 2220 Capitol Avenue and 2221 Matsui Alley. 2220 Capitol Avenue features a 3,087 square foot primary unit with two attached lower-level units, providing an additional 1,294 square feet. The primary unit at 2220 Capitol Avenue has retained its historic craftsman charm while boasting modern renovations throughout with meticulous attention to detail. The home offers 4 bedrooms and 2.5 bathrooms over three floors, with a cozy breakfast nook, modern kitchen, dining and living room, a grand foyer, and interior access to the lower-level units, which could be used as short-term rentals generating additional income, or for the occupant of the primary unit to enjoy as an office or in law quarters. Notable features of the primary unit include spacious front and back porches, custom glasswork among several window lines, hardwood floors, pocket doors, and state of the art Lumens light fixtures throughout. The backyard provides a peaceful oasis with low maintenance landscaping, fountain, garden lighting, and plenty of patio space.
Along the side of the property, you will find access to the two lower-level attached units, consisting of a one-bedroom one-bathroom unit and a studio, with a shared foyer & laundry room. These units were recently built with full kitchens, modern bathrooms, upgraded electrical, mini split HVAC, and are being offered fully furnished, presenting a “turnkey” opportunity to continue operating as short-term rentals such as Airbnb or VRBO, which the current owner has successfully done for many years.
Situated in the back of the property, 2221 Matsui Alley serves as a spacious 3-car garage with a luxury one-bedrom one-bathroom ADU on the second level. Two of the garage stalls and storage space are dedicated to the primary unit at 2220 Capitol Avenue, and a private one stall garage provides a direct entrance to the luxurious ADU unit, which consistently generates strong rental demand.
The ADU at 2221 Matsui Alley, along with the two attached lower-level units at 2220 Capitol Avenue, generated roughly $76,000 in gross income in 2024. Perhaps no aspect of this property is as unique as the additional income derived from these three units, allowing a buyer to own and occupy a stately Capitol Avenue mansion, while applying rental income to offset a significant portion of their mortgage.